What happnes to BTC,if the oil price goes up?

[patarfweefwee]

Uhm.. i don't know about the correlation of crypto currencies and oil prices. Maybe if BTCs have stakes in that kind of business. But i think that crypto currencies that are directly using it may feel a bit movement but then again we are talking about currencies here. The value of the currency is from its supply not the price of the goods they exchange for.

[Stavri]

i dont think bitcoin is going to be affected by any price change in oil. Crypto market is still looks like independed and is not under pressure of other financial items. but maybe in the future things may change and people would like to shift their money to crypto market from other markets

[Ibrahim 2020]

PetroCoin (MaduroCoin) however will benefit from an increasing oil price, so I assume that the investors and backers of this governmental garbage will happily look forward to what the future brings.

[Pelevelyl]

Nothing happens with bitcoin because the price of oil does not affect the price of the cryptocurrency.

[wvizmanos]

Been reading news lately and didn't find any correlation between bitcoin's dollar value and oil price. What's interesting to me however, is the news that says bitcoin's value is more correlated to the spectators' feelings or sentiments, with no correlation whatsoever with the other indicators.

[ArteMixer]

It may not affect bitcoin at all or make the prices higher, but there is almost no way this would cause the prices to go down. 

[YzzyGo]

Unless you're using your bitcoin as gas money I cannot see any relation between the two. Even if the oil goes up by that margin you wouldn't see anyone cashing out their bitcoins to buy barrels of oil. It does not even affect the stock market that much.

[kamotharnn]

There will nothing happening to bitcoin if the oil price goes up. Oil and bitcoin are different to each other. One is fuel, which can be touched, used in the real world while bitcoin is based on the cyber network in which we can not touch it.

[Welhell]

The oil price is going up and many people expect it will go above 100 USD per barrel,or even 120 USD per barrel.How this will impact the world economy and the cryptocurrency prices?
I have many own theory about this and I will share it later,but know I'm waiting for other opinions.
Is this good or is it bad for bitcoin?

I don't think oil's price can affect cryptocurrency. So, we saw in the past that when price of oil increase, Bitcoin's price is also go up with it and on the contrary.

[meanwords]

We all know that oil is one of the prime necessity of the world. Just in case if the demand of oil increases, it means it will it increase its price as it is needed daily. If the price of it increase, others would react to it. Let's for example. A person who invest into crypto and at the same time uses a machine in it's everyday life (which is where the oil is needed), then it would affect (Depending on the person) his investment plan in crypto because he need to add more into oil. That's how I see the relationship between oil and BTC.

[smarcio]

I also think that price oil can't seriously affect the crypto world. But maybe oil-rich people from Arabian countries, South America, Africa, Russia will decide to invest own money in crypto, who knows?!

[btccrusher]

Bitcoin is not baked or related to Oil. I don't think Bitcoin will be affected by the oil market. Tow different things you are mixing up. Bitcoin is Bitcoin, let other physical products go away.

[onyok]

I honestly don't see any connection to Bitcoin in this case, and if the prices of both responded similarly in some ways previously, it's likely coincidence. I might have missed something fundamentally, but that's my opinion.

PetroCoin (MaduroCoin) however will benefit from an increasing oil price, so I assume that the investors and backers of this governmental garbage will happily look forward to what the future brings.

I'm interested in reading your theory. If it's convincing and makes me look at the situation differently in terms of Bitcoin, I will Merit your theory.

Yeah in the first place you can see that it has no relation between the price of the bitcoin and the price of the oil but if you are going to analysed these you would notice that bitcoin is related to the fiat currency, why.? Because if you have bitcoin and you want a cash from it you are going to convert it in particular currency which have a big effects in the economy, and when the economy of a particular country so it means the goods are in the good price especially the oil.

[mr.nby]

Probably nothing will happen. Oil and bitcoin are not related to each other. Does anyone buy large quantities of oil by paying cryptocurrencies? I have not heard of this case. The increase in the price of oil does not affect the price of bitcoin.

[bowals]

I do think it'll probably affect the economy of crude oil consumers, US included, reducing the value of usd and increasing the value of btc

[carlisle1]

The oil price is going up and many people expect it will go above 100 USD per barrel,or even 120 USD per barrel.How this will impact the world economy and the cryptocurrency prices?
I have many own theory about this and I will share it later,but know I'm waiting for other opinions.
Is this good or is it bad for bitcoin?

Since electricity price are affected when oilprice hikes so this may have small influence about mining and since mining is the source of bitcoin it maybtake effect to the price of market.

But this not means either dip but atleast some price movements,though im afraid we may feel that because the current status still not stable

[Rubick99]

I can't find related to bitcoin and oil. This is a different thing, I mean Crypto world is an alternate for investment or related to payment something and oil is a commodity that can be used for the daily activity.
I'm interested in your opinion about a relation between bitcoin and oil.

[supercanada1]

I can't think of any relevance to oil's price increase to cryptocurrencies price so probably it will not affect in any other way. The connection of oil to the world economy has no connection to the way the price in the market changes so I would love to hear your theories about the connection between those two.

If the prices of oil increase, it reduces the ability of the individuals to invest in the crypto market and as a result the market goes down because the demand for the crypto goes down which also reduces the prices of crypto currency. The opposite happens when the prices of oil falls maximizing the ability of the individuals to invest again in the crypto currency. It is like taxes which show the same results.

[dante golo]

I think bitcoin can not be influenced by rising oil prices because only investors are able to make bitcoin growing so you do not easily believe in problems like this in order to keep focus in obtaining profit.

[Supreemo]

I think bitcoin can not be influenced by rising oil prices because only investors are able to make bitcoin growing so you do not easily believe in problems like this in order to keep focus in obtaining profit.

,and in some aspects it doesn't really have a major connection between oil and bitcoin or should we say crypto, but i have read from the earlier page that there is a certain coin related to oil, maybe that project might be connected to oil. In some other reasons it doesn't really affected due to the rise of oil price in the market, because it doesn't use any oil as a fuel.